(Yicai) Jan. 13 -- After setting a global record for port throughput, Shanghai plans to further strengthen its role as an international shipping hub by upgrading its hard and soft infrastructure capabilities, according to the latest regulations from the municipal government.

On the hardware front, Shanghai will coordinate efforts across departments to meet the land and water resource needs for building its international shipping center, push port and airport construction, and develop an efficient and green multimodal transport system centered around sea-air hubs and integrating rail, road, water, and air links.

The measures are outlined in the revised Regulations of Shanghai Municipality on Promoting the Building of Shanghai as an International Shipping Center. Introduced in June 2016 as China's first local regulations on shipping center development, it was revised at the end of last year and will come into effect on Feb. 1.

Shanghai also aims to boost the soft power of the international shipping center. This includes supporting professional institutions in dealing with freight rates and data, as well as carbon emissions rights and green fuel trading activities. Financial institutions will also be encouraged to provide financing, settlement, and insurance services to shipping enterprises while developing specialized financial products for the shipping industry.

Regarding technological innovation, Shanghai will promote the digitalization, intelligent and green transformation of the shipping industry, such as advancing the use of big data, blockchain, and artificial intelligence. The city will also foster the use of green fuels while constructing supporting infrastructure, and improving the management system for monitoring carbon emissions for the industry.

Last year, Shanghai Port became the first in the world with annual container throughput exceeding 50 million 20-foot equivalent units. It has now ranked highest for global port throughput for 15 consecutive years.

Shanghai has taken various steps to upgrade its shipping capacity. For example, to enhance international transit and less-than-container-load functions, the city assists shipping firms in adding near-sea routes to shorten cargo transshipment distances and improving the facilities of transshipment warehouses, as well as providing regulatory convenience, the Municipal Transportation Commission noted in response to proposals from the 2024 Shanghai Two Sessions.

Editor: Tom Litting